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26 August 2024 | 4 replies
Hi @John Paulus - Every situation will be different, but I recommend finding a GC that you can truly partner with for the long term.
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27 August 2024 | 9 replies
If so are there specific lender recommendations?
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27 August 2024 | 21 replies
This is how we protect people from getting taken advantage of on this site.
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23 August 2024 | 4 replies
@Robert Rixer, I don't know how creative these are, as many are common plays:Valet TrashFencing in first floor yardsProviding washer and dryers for added rentReserved, Covered parkingTech PackagesInternet and Cable contracts, with reimbursementsPayment Plan rents, with small service charge (i.e. bill 1/4 rent each week)Reserved Rental cabanas at poolPrivate pool party rental optionGolf Simulator in clubhouse - fee basedOn site, self serve car wash (quarter feeder style)Charged group fitness/personal training servicesGame room in clubhouse with monthly subscription for tenants (Xbox, Playstation, etc)Changing out high maintenance grass for astro turf or lower maintenance/lower water use shrubberyBut ultimately, I think a lot of NOI increases come from deep dive into understanding EVERY expense and finding ways to minimize them, and/or no outsource them.Train maintenance team on basic HVAC and appliance repairs (find way to get them licensed as needed)Buy paint sprayers for faster, easier turns versus having to hire a contract painter, and possibly repaint whole unit each timeStandardize all finishes, so you can buy in bulk, everything from hinges and door knobs to cabinets, paint colors, and light fixtures.Potentially get leasing people onto lower base salary with higher bonus potentialBulk/bundled insurance across portfolio (even better at scale is to self insure)Regularly test sprinkler systems for leaks.Non-NOI, but benefit to you: partner with insurance agency to get referral kickbacks from your tenant base for renter insurance.
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25 August 2024 | 57 replies
Would never recommend someone go class action.
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25 August 2024 | 8 replies
Have you faced obstacles with high-interest rates in private lending?
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22 August 2024 | 1 reply
But was hoping there might be a Savvy one that is already a member on the site.
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23 August 2024 | 29 replies
Listings that have been on the market for a few weeks might be listed too high.
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27 August 2024 | 2 replies
Likley if you find an agent who specializes in this, they will have better lender recommendations.